Carmen Reinhart, Takeshi Tashiro, 17 December 2013

Financial crises cast a long shadow on investment. For nine major Asian economies, average investment as a share of GDP declined sharply during 1998-2012 from its average in the decade before the Asian crisis (if China and India are excluded, the estimated decline exceeds 9%). This column suggests that there is a connection between the sustained reserve accumulation and the significantly lower levels of investment in the region.

Betty Daniel, 01 July 2012

What causes financial crises in emerging markets? This column looks at the effect of risky investments in South Korea on the Asian financial crisis of the late 1990s.


CEPR Policy Research